The latest round of funding was led by ENIAC Ventures, with New Enterprise Associates, Nyca Partners, Lightbank, and Middleland Capital.
To be introduced in 2017, the Zero mobile banking experience is powered by the Zero app and Zerocard, a Visa card that acts like a debit card and earns credit card rewards.
Zerocard will act like a debit card, where users can deposit and withdraw in one place in the app with a real-time, net balance.
The startup claims that it will give clients banking with better cash rewards on purchases, higher interest on deposits, and typical fees will not be charged by traditional banks.
The card will be constructed of solid metal, and will come in four levels: Zerocard Quartz, Zerocard Graphite, Zerocard Magnesium and Zerocard Carbon.
The entry-level Zerocard Quartz will earn 1.0%, Zerocard Graphite will earn 1.5%, Zerocard Magnesium will earn 2.0% and Zerocard Carbon will earn 3.0% cash back.

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By GlobalDataOther features of Zero will include an Intelligent Advisor, which will forecast client’s balances based on past trends, the ability to use the card with no ATM fees at more than 50,000 locations in Zero's preferred network.
Additionally, Zero app will enable cardholders to block their card in case it's compromised.
Zero founder and CEO Bryce Galen said: "Many people don't want to take on debt and don't have time to worry about multiple credit card statements, balances and due dates in the name of chasing down rewards, yet they still don't want to give up the opportunity to get cash back on their spending. Zero is the first modern banking experience to solve this."